Call Free Phone Now:0808 163 0102
Outside the UK: +(44) 207 898 0541 Request a Call Back
 
  Daily Currency News Euro US Dollar Educational Articles  
 
Posted October 2nd, 2014 by Charles Purdy

The pound’s rebound – foreign homes cheaper this autumn!

On the verge of needing to buy euros for an overseas property purchase? Then now could be an ideal time after the exchange rate swung back in favour of Brits, thanks to the confidence boost the Scottish ‘No’ vote has brought, slow economic recovery in Europe and hints that an interest rate rise in the UK could be on the cards.

Now, at the start of October and with autumn about to set in, the pound is hovering around a two-year high against the euro at £1/€1.28, while against the dollar it is £1/$1.62. Even just three weeks ago – in the run-up to the Scottish referendum – anyone making a high value pound-euro transfer would have received a worse deal than today. The rate then was in the mid £1/€1.24s.

In real terms, this means that at today’s rate of £1/€1.28, a £100,000 property abroad would cost £78,125 (based on interbank exchange rates), while three weeks ago when the rate was £1/€1.245 it would have cost £80,321 – approximately £2,000 more – the cost of a new kitchen or bathroom in your new holiday home!

It is usual for important political or economic results to cause volatility in the currency – and other financial – markets. For anyone whose money could be affected by such movements, speaking to experts before your funds are exposed makes sense. Currency specialists like Smart Currency Exchange not only offer better exchange rates than high street banks, but they understand how exchange rates might react to key economic events and can propose ways to protet the value of your funds – something that is vital for someone intending to use pounds to buy an overeas property that is priced in a foreign currency.

Find out more about how Smart Currency Exchange could help you save money and send money abroad safely by downloading their free guide.

 

Comments are closed.

Posted March 20th, 2014 by Charles Purdy

Let down by the Budget? Don’t let exchange rates get to you too!

Did this week’s Budget disappoint you at all? Did anything in Chancellor Osborne’s statement affect your financial plans or lead you to reassess your future?   Changes to tax and fiscal policy can be especially disruptive to anyone on the verge of retiring abroad or budgeting for an overseas property purchase, meaning preparation is vital.  Continue Reading…

Posted March 22nd, 2012 by Charles Purdy

How Smart helped us buy in Corfu

Peter and Deborah had always wanted to spend time in the sun, away from the grey English weather. Greece was their country of choice so when Deborah’s mother sadly passed away they decided to use their inheritance both to invest their money wisely and to make their dreams come true.   “We wanted to do  Continue Reading…

© Copyright 2010 Smart Currency Exchange. All Rights Reserved.
Site by Iniquus